AXISCADES Engineering plunges 8% despite delivering 67% stellar growth in Q4 PAT

Despite pandemic conditions, reduced debt by 49% to INR 728Mn during FY21.

Jun 14, 2021 01:06 IST India Infoline News Service

AXISCADES
AXISCADES Engineering Technologies has announced its Q4FY21 and full year FY21 financial results.

The company posted a robust performance as reflected in 19% growth in income primarily on the back of robust performance in Products & Solutions segment. Despite challenging macro environment, AXISCADES leveraged its established capabilities and continuing thrust on cost rationalisation to maintain its EBITDA margins and cashflow generation on both a corresponding and sequential quarter basis.

Key Highlights:
  • Strong qoq Revenue growth at 19% & 18% in INR and USD terms respectively.
  • EBITDA margins for Q4 FY21 at 15.2% (Rs23.1cr) is driven by a combination of topline growth and better operating efficiencies during the year
  • EBITDA for FY21 is similar to FY20 (Pre-Covid) at about 14.6% on account of various initiatives taken by the company.
  • 2 New customers added in Q4 FY21 and a total of 7 customers during the year
  • 67% growth in Adjusted PAT to Rs9.32cr for the quarter.
  • Despite pandemic conditions, reduced debt by 49% to Rs72.8cr during FY21
AXISCADES launched three new products – Elevated Skin Temperature Sensor, Social Distancing Application and Remote Operations Desk, from the recently established Digital Lab aimed to provide comprehensive solution to Clients in the prevalent conditions. Witnessing good traction with about 85+ installations. We expect to increase the installations to 500+ by end of FY22. Continuous traction can be seen in the pipeline and order book.

Forged partnerships with niche companies to address upcoming opportunities in Strategic technologies in areas such as Anti drone systems, Simulators, Virtual Trainers and Naval Systems.

Commenting on the results and outlook, David Bradley, Chairman of AXISCADES said: “Given the pandemic and the challenging economic conditions, the management team has done a commendable job during the year under review. Owing to the work undertaken over the last 2 years, the Company is better positioned to capitalise on the opportunity that would be unfolding over the next couple of years”

At around 1:10 PM, AXISCADES Technologies was trading at Rs92.95 apiece down by Rs7.9 or 7.83% on Sensex.

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